Mining operations at the Blackdome gold-silver mine west of Clinton, B.C., will be terminated during the fourth quarter, MinVen Gold (TSE) reports. The mine, which entered production in April, 1986, had turned out 202,652 oz. gold and 627,537 oz. silver from 336,951 tons of ore to the end of July of this year.
The company announced earlier this year it had written down the carrying value of its investment in the mine because of a significant decline in grade of ore being mined.
Since then, Denver-based MinVen reported the discovery of a high-grade zone in the No. 18 vein. At current rates of mining, the company expects this high-grade shoot will be mined out by November and the ore processed by late December.
“MinVen’s efforts to replace the high-grade gold ore mined at Blackdome have been unsuccessful to date,” President James Anderson said.
Cessation of operations will allow the company to assess the property’s full potential, he said, adding that operations will re-commence should Blackdome develop additional reserves.
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